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Author Topic: How world currencies compare to Bitcoin in terms of "market capitalization"  (Read 4177 times)
Yakamoto
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February 05, 2017, 09:08:53 PM
 #21

That's actually pretty impressive to be honest, I had a feeling Bitcoin was bigger than some countries' currencies, however I didn't think it was bigger than 60% of the currencies throughout the world. Especially when you consider that Bitcoin has a market cap of $14B.

Goes to show how a lot of the world is poorer than you think.
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The Pharmacist
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February 05, 2017, 09:18:42 PM
 #22

I do find this mildly interesting, but you could also list the countries that have a smaller market cap than the Coca-Cola company, and there would be a lot more red.  I'm not sure it's really relevant to anything.  Now of course if bitcoin is to become a worldwide currency, it has to deflate.  A lot.  We're all waiting for that, but I'm just not sure it's going to happen.  Do any of you?

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February 06, 2017, 01:10:35 AM
Last edit: February 06, 2017, 01:39:47 AM by Blind Legs Parker
 #23

I'm not sure it's really relevant to anything.
I think it's more relevant when compared to currencies that are bigger than it. I don't care about weak currencies actually. The green is what matters to me. It gives an idea of the room left for Bitoin to grow. I also wanted the detailed data, which the original map is very elusive about, and that's why I started all these calculations after seeing it. Actually I now think that the chart in #4 is more relevant, firstly because it uses the same data as the map (which comes from the CIA website, which seems more reliable than my original source, tradingeconomics) and secondly because it shows the difference in the shape of a percentage compared to Bitcoin.
I'm thinking about dumping OP all in all and replacing it with this second chart. What say you, people?

BTW, what do you mean by "it has to deflate", The Pharmacist?
Quote
I do find this mildly interesting, but you could also list the countries that have a smaller market cap than the Coca-Cola company, and there would be a lot more red.  I'm not sure it's really relevant to anything.
It is relevant in the sense that governments are managed in a similar fashion as companies are, and it's interesting to notice how companies, which basically are plutocratic dictatures, are proving more efficient than democraties. Several years ago, newspapers were talking about how Google could technically buy Greece. Of course it didn't happen, but it opened my eyes to the idea that despite the fact that most of us live in democratic countries, we work for dictatorial companies, and they sometimes fare better than said democraties.

xhomerx10, please don't. You have been the most helpful person here until now. I was asking for other people's insight about the weak market cap that I got for the RUB, now it's just that I've gotten it, partly thanks to you, and that I'm afraid that if I don't remove the information from the first post the discussion will only revolve about it although the issue has already been solved. But actually you're right: I should update the chart with the Russian central bank's data instead. I'll do it now.

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February 06, 2017, 01:36:03 AM
 #24

So where is bitcoin's country? where are North Korea and Iran? why CIA as reference? because it says CIA? you should check the data provided by the world bank. now we all know bitcoin knows no borders and could reach even more levels of credibility and value or are you trying to prove a point I'm not seeing it.

﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
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Blind Legs Parker
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February 06, 2017, 01:43:41 AM
 #25

So where is bitcoin's country?
On the internet.
Quote
where are North Korea and Iran?
No idea, you tell me.
Quote
why CIA as reference?
Because it says CIA. (No, seriously, I tried other sources and the CIA's data just seemed more reliable.)
Quote
you should check the data provided by the world bank.
Maybe I should.
Quote
now we all know bitcoin knows no borders and could reach even more levels of credibility and value or are you trying to prove a point I'm not seeing it.
Is it me or are you being aggressive?

Time flies like an arrow. Fruit flies like a banana.
The Pharmacist
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February 06, 2017, 01:47:32 AM
 #26

Deflate as in gain value, the opposite of inflation.   To the point where a single satoshi is worth a decent amount.  Then there would be enough to go around.   Does that make sense?

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February 06, 2017, 01:51:47 AM
 #27

It does, indeed. We're all waiting for it.

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February 06, 2017, 02:47:40 AM
 #28

Hopefully we will see more and more red countries in the list as you update it Wink
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September 24, 2017, 06:18:57 AM
 #29

First off: what I'm calling "market capitalization" here is actually the M1 money supply, which is a little different but still close enough, I think.

If you don't know what M1 money supply is, investopedia will explain it better than me:
M1 is a metric for the money supply of a country and includes physical money — both paper and coin — as well as checking accounts, demand deposits and negotiable order of withdrawal (NOW) accounts. The most liquid portions of the money supply are measured by M1 because it contains currency and assets that can be converted to cash quickly. "Near money" and "near, near money," which fall under M2 and M3, cannot be converted to currency as quickly.
I should add that M1 and M2 are the most common standards when it comes to calculating a country's money supply. Here I chose to use M1. If I had used M2, all the numbers would have come out at least a little higher, and the countries that find themselves at a tie with Bitcoin but are just a little lower (and thus in the red) would likely have been green.

I got the idea of doing these calculations because I recently stumbled upon this map, which I found interesting, and I wanted to know the details of how the different market caps compared to Bitcoin's:
http://img11.hostingpics.net/pics/575497currenciesmarketcap.jpg

Notes:
- The red color means that this country's currency's market cap is lower compared to this of Bitcoin. The green color means that it is higher.
- All amounts are in USD.
- Normally there shouldn't be any mistake but if you find any, I invite you to point it to me.
- I won't give the detail of the calculations here, because it wouldn't be readable on the forums, but if you feel like checking any detail, you can have a look at the data on http://www.tradingeconomics.com/united-states/money-supply-m1 and divide it by the USD exchange rate (just make sure to check if the original data is in thousands, million or billion of the original currency: it matters).
- Of course it goes without saying that this data is true as of today, but without being updated, it will divorce more and more from reality as time passes (and I don't intend to update it without proper tools, which I'm lacking at the moment, sorry  Wink): creating this chart already took me a few hours of my time.

   Albania   3,197,063,844   
   Angola   23,176,824,000   
   Argentina   53,363,929,500   
   Armenia   1,215,818,100   
   Australia   254,668,400,000   
   Austria   211,297,180,000   
   Azerbaijan   4,256,511,000   
   Bahamas   2,298,000,000   
   Bahrain   9,253,800,000   
   Bangladesh   25,704,666,000   
   Belarus   2,768,776,400   
   Belgium   199,555,000,000   
   Belize   1,461,030,000   
   Bhutan   679,479,000   
   Bolivia   8,161,005,440   
   Bosnia and Herzegovina   5,044,583,500   
   Botswana   1,542,723,300   
   Brazil   110,825,644,800   
   Brunei   3,171,000,000   
   Bulgaria   22,451,385,000   
   Burundi   375,830,472   
   Canada   674,471,120,000   
   Cape Verde   591,940,560   
   Chile   44,272,605,000   
   China   7,299,000,000,000   
   Colombia   34,625,062,800   
   Congo   1,264,109,020   
   Croatia   11,043,284,000   
   Cyprus   4,739,030   
   Czech Republic   129,446,456,000   
   Denmark   156,736,160,000   
   Djibouti   583,900,800   
   Ecuador   22,639,190,000   
   Egypt   32,937,115,000   
   El Salvador   3,253,400,000   
   Estonia   11,981,860,000   
   Euro Area   7,692,436,510,000   
   Finland   123,030,740,000   
   France   1,126,275,580,000   
   Georgia   1,896,050,722   
   Germany   2,046,375,000,000   
   Greece   116,899,640,000   
   Guatemala   10,337,288,000   
   Hong Kong   287,816,100,000   
   Hungary   50,284,980,000   
   Iceland   4,124,216,000   
   India   318,319,500,000   
   Indonesia   88,705,485,000   
   Iraq   59,571,120,000   
   Ireland   154,587,180,000   
   Israel   84,828,120,000   
   Italy   1,081,634,110,000   
   Japan   6,066,107,520,000   
   Jordan   14,489,442,000   
   Kazakhstan   14,269,163,600   
   Kenya   12,212,160,000   
   Kuwait   31,157,048,000   
   Kyrgyzstan   1,266,666,800   
   Latvia   10,869,595,000   
   Lebanon   6,509,448,000   
   Lesotho   360,431,800   
   Lithuania   15,053,830,000   
   Luxembourg   237,540,000,000   
   Macau   8,823,792,900   
   Macedonia   1,716,869,100   
   Malaysia   84,698,180,800   
   Malta   13,764,587,000   
   Mexico   175,363,079,136   
   Moldova   1,404,560,000   
   Mongolia   856,645,472   
   Morocco   73,019,200,000   
   Namibia   2,926,537,200   
   Netherlands   484,705,720,000   
   New Caledonia   2,994,948,000   
   New Zealand   35,730,580,000   
   Nicaragua   1,874,876,960   
   Nigeria   32,075,573,408   
   Norway   222,315,840,000   
   Oman   13,156,260,000   
   Pakistan   101,140,087,500   
   Peru   22,787,100,000   
   Philippines   58,831,076,600   
   Poland   203,827,527,500   
   Portugal   110,352,310,000   
   Qatar   33,804,270,000   
   Romania   43,203,240,000   
   Russia    153,936,646,226 (data source: https://www.cbr.ru/Eng/hd_base/?PrtId=mb_nd_month)      
   Rwanda   919,920,000   
   Sao Tome And Principe   57,298,283   
   Saudi Arabia   309,664,080,000   
   Serbia   5,227,269,200   
   Seychelles   317,614,660   
   Sierra Leone   364,238,700   
   Singapore   120,749,230,000   
   Slovakia   45,475,000,000   
   Slovenia   16,562,530,000   
   South Africa   119,149,398,000   
   South Korea   658,838,060,000   
   Spain   842,815,460,000   
   Sri Lanka   4,874,920,000   
   Sudan   10,324,650,000   
   Swaziland   367,040,000   
   Sweden   273,167,620,000   
   Switzerland   593,364,000,000   
   Taiwan   202,921,600,000   
   Tajikistan   1,083,284   
   Thailand   49,879,200,000   
   Tunisia   11,264,880   
   Turkey   99,408,052,978   
   Ukraine   18,203,260,000   
   United Arab Emirates   127,980,000,000   
   United Kingdom   2,017,418,750,000   
   United States   3,320,700,000,000   
   Uruguay   4,638,025,000   
   Venezuela   907,167,934,000   
   Vietnam   64,069,016,000   
   Zimbabwe   3,260,365,000   

Data sources:
https://blockchain.info/charts/total-bitcoins
http://www.tradingeconomics.com/united-states/money-supply-m1
https://www.cbr.ru/Eng/hd_base/?PrtId=mb_nd_month
Google exchange rates as of today.
How are you generating separate values for EURO countries?
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